| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 82nd | Best |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 21301 Town Lakes Dr, Boca Raton, FL, 33486, US |
| Region / Metro | Boca Raton |
| Year of Construction | 1987 |
| Units | 32 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
21301 Town Lakes Dr Boca Raton Multifamily Investment
Neighborhood renter-occupied share and amenity density support a stable tenant base, according to WDSuite’s CRE market data. Occupancy is competitive for the metro, suggesting steady leasing fundamentals with pricing set by a high-cost ownership market.
Situated in Boca Raton’s inner suburb context, the property benefits from an A+ neighborhood rating and a top-tier position (ranked 4th among 319 metro neighborhoods). Dining and daily-needs access are strong: restaurants and cafes rank competitively among West Palm Beach–Boca Raton–Boynton Beach neighborhoods (restaurant density at rank 6 of 319; cafes at rank 11 of 319), while grocery and pharmacy access also track in the upper tiers nationally. For residents, this concentration of amenities supports retention and reduces friction in day-to-day living.
The neighborhood’s renter-occupied share is high, indicating a deep pool of multifamily demand and a broader base for leasing velocity and renewals. Neighborhood occupancy sits near the national midpoint but is above the metro median (rank 94 of 319), aligning with steady absorption rather than volatility. Median effective rents register in the upper national percentiles, reinforcing a quality-demand environment where well-managed assets can compete on product and service rather than discounting.
Within a 3-mile radius, population and household counts have grown over the last five years and are projected to continue rising through 2028. Forecasts point to increases in higher-income households and a larger renter pool, which should expand the tenant base and support occupancy stability over the medium term. Household sizes are expected to edge higher, a factor that can sustain demand for a range of unit mixes.
Home values in the area are elevated versus national norms and value-to-income ratios are in higher national percentiles, which typically sustains reliance on rental housing. For investors, this tends to support pricing power and renewal capture, though it also calls for attentive lease management where rent-to-income ratios signal affordability pressure.
Safety indicators are mixed when viewed across metrics. The neighborhood’s overall crime composite sits around the national midpoint, but offense-specific benchmarks show comparatively safer readings: estimated violent and property offense rates are in the mid-70s percentiles nationally, indicating lower incidence than many U.S. neighborhoods. Recent year-over-year shifts show volatility, so investors should monitor trend direction rather than any single reading. Framing these results against the West Palm Beach–Boca Raton–Boynton Beach metro, the area is competitive among peers and merits routine diligence typical for inner-suburban assets.
Nearby corporate anchors provide a diversified employment base that supports renter demand and commute convenience, notably in retail headquarters, healthcare administration, and automotive services.
- Office Depot — retail HQ operations (3.1 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare administration (10.1 miles)
- AutoNation — automotive retail & services (16.6 miles) — HQ
- Sysco Southeast Florida — food distribution (28.2 miles)
- NextEra Energy — energy & utilities (34.7 miles) — HQ
This 32-unit Boca Raton asset is positioned in a high-performing inner-suburban neighborhood where amenity density, elevated home values, and a sizable renter-occupied share underpin durable multifamily demand. Neighborhood occupancy ranks above the metro median (94 of 319), and effective rents sit in higher national percentiles, indicating that demand is driven by location fundamentals rather than concessions. According to CRE market data from WDSuite, the surrounding area’s household growth and income gains are expected to expand the renter pool, supporting leasing stability and renewal capture.
Investor considerations include affordability pressure (given high rents relative to income benchmarks) and standard monitoring of crime trends, which have shown recent volatility despite favorable offense-rate percentiles. With disciplined operations and pragmatic capital planning, the property can compete on product quality and service in a submarket where renters value convenience and access.
- Amenity-rich inner suburb with competitive occupancy among 319 metro neighborhoods
- Elevated home values and limited ownership accessibility reinforce multifamily demand and pricing power
- 3-mile forecasts show population and household growth, enlarging the tenant base
- Employer proximity (retail HQ, healthcare, utilities) supports commuter demand and retention
- Risks: affordability pressure (rent-to-income), and crime-trend variability warrant ongoing monitoring